The last days of November will feature the release of preliminary inflation data and manufacturing purchasing manager indices for November in the second half of the week. The focus in Hungary will be on the regular government security auctions, as well as on the OECD’s Economic Outlook and the latest unemployment statistics.
The week is off to a slow start. On Monday, there is a summit between China and Central and Eastern Europe with Hungary’s Prime Minister Viktor Orbán and Chinese Premier Li Keqiang among the speakers. Some key announcements are expected to be made at the event. János Lázár, the minister at the helm of the Prime Minister’s Office, has already signalled that at the summit they could sign the agreement to start the construction of the Budapest-Belgrade railway line. Elsewhere, we might want to keep our eyes on the EU’s financial stability report and new home sales stats in the United States.
On Tuesday, the Hungarian central bank (MNB) will release its third-quarter statistics for credit institutions, and the Organisation for Economic Co-operation and Development (OECD) will also publish its latest Economic Outlook, including its latest estimates for Hungary.
On Wednesday, the Central Statistical Office (KSH) is scheduled to publish the most important data of the week, unemployment and employment figures for October. Revised GDP data for France and the U.S. are also in the pipeline, along with Q3 personal consumption expenditures figures. Investors will also keep an eye on the Federal Reserve’s Beige Book.
Early on Thursday, China will publish its official manufacturing purchasing manager index data, which could be an important indication for the country’s economic performance in Q4, especially because a lot of people are still concerned that growth of the world’s second-largest economy will decelerate in October-December. Markets may be moved in the morning by German unemployment and Eurozone inflation data, and in the afternoon eyes will be on the personal consumption expenditure price index overseas.
On Friday, China is set to release its second manufacturing PMI data which will be followed by other PMI data in Europe, including Hungary, and overseas during the day.
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